Why work has failed us: Because no one can afford to retire anymore

September 6, 2018 Good morning! How’s your retirement savings going? If you’re like . . . well, most people, then the answer is probably not great. A depressing 66% of millennials have no money saved for retirement; households close to the end of their working lives have an average of only $21,000 saved. But this is not to blame you: Most people are struggling to afford even their day-to-day expenses, so the idea that anyone would be saving for retirement is largely laughable. How did we get here? [This story—the latest in our series Why Work Has Failed Us, about why jobs aren’t providing people with enough to survive](—looks at what happened when companies stopped giving their employees pensions, told everyone to deal with their own savings with 401(k)s, and then stopped paying them enough to save (and stopped matching their contributions). It’s resulted in a top-heavy system where the wealthiest 20% control 75% of the wealth in those retirement accounts and most people don’t have anything beyond their Social Security income (which often puts you at about the poverty line) to live on. There are some smart solutions to make sure everyone at least has access to a retirement account, but getting enough money in them will require companies to start being far more generous—or we’re going to have to rethink how we, as a society, take care of people once they’ve given their lives to their work. —[Morgan Clendaniel]( [Why work has failed us: Because no one can afford to retire anymore]( [Why work has failed us: Because no one can afford to retire anymore]( As people struggle to make ends meet, fewer are saving for retirement, and fewer companies offer retirement accounts: 66% of millennials have nothing saved. [I tried the Titan Key, the security fob used by 85,000 Google workers]( [I tried the Titan Key, the security fob used by 85,000 Google workers]( The Titan Security Key makes logins safe. I just wish it made them easier. [These photos show just how much damage humans have done to the planet]( [These photos show just how much damage humans have done to the planet]( Photographer Edward Burtynsky’s new book is a photographic record of the Anthropocene, the new geologic age created by human changes to the planet. [What if your home mirror was your fitness trainer?]( [What if your home mirror was your fitness trainer?]( Refine Method founder Brynn Putnam’s startup Mirror offers constantly changing on-demand home fitness classesؙ—all via an interactive reflective surface. [Colin Kaepernick makes Nike seem more progressive than it is]( [Colin Kaepernick makes Nike seem more progressive than it is]( The brand could become a progressive powerhouse–but it needs to begin at home. [When should you take a mental health day?]( [When should you take a mental health day?]( Even for people who are not suffering from clinical levels of depression and anxiety, the occasional “mental health day” might still be valuable. [Nike doubles down on Colin Kaepernick with a stunning new commercial]( [Nike doubles down on Colin Kaepernick with a stunning new commercial]( If you thought the former NFL quarterback’s tweet was good, wait til you see this. [You can already buy Trump’s “redesigned” American flag on a T-shirt]( [You can already buy Trump’s “redesigned” American flag on a T-shirt]( “This shirt can only be worn by PATRIOTS who know what the flag looks like,” writes Cards Against Humanity co-founder Max Temkin. Share This Newsletter Did someone forward you this email? Subscribe [here!]( Like this email? Consider signing up for our other newsletters [here](. Too many emails? Update your subscription preferences [here](. No longer want to receive this newsletter? Unsubscribe [here](. Mansueto Ventures, 7 World Trade Center, New York, NY 10007-2195